•NEO/USD is currently priced at $10.14 and has increased by 2.59% over the past day
•The trading volumes have increased by 21.78% over the past day
•The technical indicators suggest a positive outlook for the near term
Short Term View: Neo Coin rises as bulls attempt to regain ascendancy
The Neo price today is $10.14 USD with a 24-hour trading volume of $71,058,289 USD. Neo is up 2.59% in the last 24 hours. The trading volumes have increased over the past day amid increased selling activity whereas the Volume to Market Cap Ratio stands at 0.09935 for the altcoin.
After a turbulent few weeks in the market, the cryptocurrency market is now taking a breather as is depicted in its subsequent recovery. Neo Coin has shown price strength recently, with the asset currently transacting above the 20,50 SMA on the four-hour chart. The Neo price analysis shows that the asset has climbed above the $10 mark and will be looking to breach the $10.50 level as strong bullish movements guided the price action today. The bulls will have control as long as the prices are trading above $10 which may act as support in the short run.
Long Term View for Neo Price
The RSI for Neo is currently transacting at 59.44 after the period of accumulation came to an end and bulls entered the fray. The green histograms have increased in size on the daily chart as a result of today’s bullish price action. The bulls have made their presence felt and the altcoin is looking to embark on a protracted uptrend as the MACD line has ventured into positive territory, with the signal line likely to follow suit in the coming future.
Conclusion
The Neo price technical analysis indicates that the asset is in a rising trend, with growing potential to resume its rise. Hence, we are likely to see Neo price continuing to surge in the days ahead.
Support: $10-$9
Resistance: $10.50-$11
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish the financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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